NOVEMBERASIA BUSINESS OUTLOOK19Moreover, foreign clients may find it challenging to adapt to local business practices. RSBU fills this void by giving an understanding of the Singapore business environment, helping new businesses adapt, and providing them a platform to meet other businesses to help them penetrate the market.Expertise in Immigration and Visa RegulationsUnderstanding the immigration and work visas in Singapore can be challenging for any company that needs to employ foreign workers, which allows the company to provide a full immigration services package. This is because it understands the various needs of the clients, be it the Employment Pass, S Pass, EntrePass or One Pass. The firm also prepares and administers all the paperwork and ensures that the company complies with the Ministry of Manpower.RSBU's comprehensive service minimizes the possibility of a delay in the approval of the visa application and increases the likelihood of success, making it a secure partner for companies in need of foreign skills. One of the most successful cases was the case of a European tech startup where RSBU assisted the company in obtaining the necessary work permits for the team so that the company could start its activities without any problems.Accounting and Tax Compliance ExpertiseMaintaining proper accounting and tax reporting is crucial in Singapore as the tax laws are subject to revision. RSBU has top-of-the-line technology and experienced local professionals to provide accounting and tax solutions. Their team is well informed of the rules and regulations from the Inland Revenue Authority of Singapore (IRAS) and the rest of the world, to make sure their clients meet the necessary requirements.RSBU uses the latest accounting software that helps in the computation of various financial transactions with minimal chance of making a mistake in the financial statements. A system of checking and verifying financial statements and tax filings is done at several levels to meet legal requirements and client requirements. Besides, the firm provides its business clients with specific tax planning and management recommendations in line with Singapore's tax incentives.Data-Driven Business ConsultingRSBU's consultancy services are underpinned by the provision of advice based on analysis of data. The firm uses market intelligence, sector knowledge, and scenario planning to help clients understand the potential threats and opportunities in their market. This is particularly useful for organizations that are venturing into new markets or those that are extending their products and services.For example, RSBU has recently worked with an IT company that wanted to know which countries in the SE Asia market are the most promising and RSBU helped provide data analysis to find out. As a result of the detailed analysis, it proposed a clear strategy as well as provide support on each step of business set up that enabled the client to enter the market fast and achieve a high revenue increase.Staying Ahead of Regulatory ChangesRSBU's proactive policy about changes in regulations makes it possible for the clients to be in the right position concerning legal requirements that change frequently. The firm's compliance department tracks changes in the laws and regulations from IRAS and the Monetary Authority of Singapore (MAS). It promulgates these changes to its clients through various means such as emails, webinars, and consultations, and then explains the changes in the form of steps that the clients need to take. The firm also provides training to the clients to avoid sanctions.Expanding Services and Entering New MarketsIn the future, RSBU plans to diversify its services and tap into new business opportunities in different parts of Asia. The company has identified an opportunity to create a product that integrates several services and offers its clients a comprehensive business solution. Owing to its experience in market analysis, compliance, and digital transformation, it is well-poised to help clients not only in Singapore but across the region, helping them manage new regulatory environments and grow their businesses. The firm has become a reliable partner for companies who are ready to start or expand their business in Singapore as the company focuses on innovation, compliance, and client solutions. Due to its efforts, the company is in a position to adapt to the changes in the market and the evolving legal framework, to assist organizations in succeeding in the current and future market environment. The firm understands that each client has unique needs and it conducts industry-specific research to provide information relevant to the client's requirements
< Page 9 | Page 11 >